The US Postal Service Now A Bank

Congress Wants To Turn The US Postal Service… Into A Bank

Submitted by Simon Black via SovereignMan.com,

It’s news that seems ripped from the pages of The Onion. Or perhaps Atlas Shrugged.

But incredibly enough it’s actually true: earlier this week, Congress proposed a new law authorizing the US Postal Service to provide banking and financial services.

It’s called the “Providing Opportunities for Savings, Transactions, and Lending” Act, abbreviated as… wait for it… the POSTAL Act.

And it provides explicit authorization for them to provide banking services including checking and savings accounts, money transfers, and “other basic financial services as the Postal Service deems appropriate in the public interest.”

Bank of the Post Office. It’s incredible when you think about it.

The US Postal Service hasn’t turned a profit in a decade.

As a matter of fact, its total accumulated losses now exceed $51 billion, easily ranking it among the least successful companies in history.

And the only way USPS can continue to maintain its operations is with regular bailouts from the American taxpayer.

The statistics are just horrendous. Mail volume is down dramatically, which means that revenue continues to fall.

Yet the Postal Service’s expenses and pension costs keep growing, along with its debt.

Just like the US government, the US Postal Service has its own debt ceiling that’s set by Congress.

USPS reached this debt ceiling back in 2012 and has remained at that level for years.

The only way they survive is by moving liabilities off-balance sheet and regularly going back to Congress with hat in hand.

Wow, talk about a responsible financial partner– this sounds like EXACTLY the place we should want to deposit our hard-earned savings!

Seriously, why would these people even consider an idea so absurd as to let an organization with a history of failed operations take over people’s savings?

Simple. It’s a cheap source of capital.

The Postal Service desperately needs cash. So what better way to raise capital than to sucker unsuspecting Americans into opening up Postal bank accounts?

When you deposit money in a bank, you are effectively loaning the bank your money.

In exchange, they pay you a whopping 0.01% interest.

This is what almost all banks do– they borrow money from depositors and (hopefully) make credible investments and loans with other people’s money.

Except in this case, the Postal Service needs to ‘borrow’ depositors’ savings to cover losses from its other operations.

There’s a term for this. It’s called a Ponzi Scheme.

World Leader Who Stole Citizens’ Gold

Meet The World Leader Who Stole His Citizens’ Gold

http://www.zerohedge.com/news/2016-02-03/meet-world-leader-who-stole-his-citizens-gold

Submitted by Simon Black via SovereignMan.com,

Even before his coronation in 1626, King Charles I of England was almost bankrupt.

His predecessors King James and Queen Elizabeth had run the royal treasury down to almost nothing.

Costly war and military folly had taken its toll. The crown had simply wasted far too much money, and brought in too little.

To make matters worse, King Charles was constantly at odds with parliament.

The English government was completely dysfunctional, with constant bickering, personal attacks, and very little sound decision-making.

Parliament refused to pass the taxes that Charles needed to make ends meet. But at the same time, the King was legally unable to levy his own taxes without parliamentary approval.

So, faced with financial desperation, he began to look for alternative ways to raise revenue.

One way was relying on practically ancient, obscure laws to penalize his subjects.

The Distraint of Knighthood, for example, was based on an act from 1278, roughly three and a half centuries before Charles’ coronation.

The Act gave him the legal authority to fine all men with a minimum level of income who did not present themselves in person at his coronation.

Charles also commandeered vast amounts of land, restoring the boundaries of the royal forests to where they had been during the time of King Edward I in the 13th century.

He then fined anyone who encroached on the land, and resold much of it to industries that were supportive of his reign.

King Charles even resorted to begging; in July 1626, he requested that his subjects “lovingly, freely, and voluntarily” give him money.

When that didn’t work, the King levied a Forced Loan, effectively confiscating people’s funds under the guise of ‘borrowing’ it.

He raised about £250,000, the equivalent of about $7.5 billion today.

Emboldened by his success, Charles eventually seized assets directly, including all the gold on deposit being held at the Royal Mint– money that belonged to the merchants and goldsmiths of England.

At one point Charles even forced the East India Company to ‘loan’ him their pepper and spice inventory. He subsequently sold the products at a steep loss.

If any of this sounds familiar, it should.

Today there is no shortage of nations facing fiscal desperation. Most of Europe. Japan. The United States.

In the Land of the Free, the government has spent years… decades… engaged in the most wasteful folly, from multi-trillion dollar wars to a multi-billion dollar website.

US debt just hit $19 trillion a few days ago. And it’s only going higher.

We can already see the government’s financial desperation.

Over the years, the government has effectively levied a ‘forced loan’ totaling more than $2.6 trillion on the Social Security Trust Fund, whose ultimate beneficiaries are the taxpayers of the United States.

Bottom line, they’re ‘borrowing’ YOUR money.

Last year the government stole more from Americans through ‘Civil Asset Forfeiture’ than all the thieves in the United States combined.

In December, the US government confiscated $19.3 billion from the Federal Reserve, which, by the way, was already very thinly capitalized.

Even if you want to believe the propaganda, it’s clear that these are not the actions of a healthy, solvent government that embraces liberty.

In fact, the government published over 80,000 pages of laws, bills, regulations, and executive orders last year. Just this morning they published another 308 pages.

It’s impossible for anyone to keep up with all of these rules. And yet each can carry civil and criminal penalties, including a fine now for not having health insurance.

As Mark Twain used to say, history may not repeat, but it certainly rhymes.

Financially insolvent governments of major superpowers do not simply go gentle into that good night.

They don’t suddenly turn over a new leaf and start embracing economic freedom.

Instead, they get worse. More desperate. More destructive.

Should we honestly believe that they can continue racking up more debt than has ever existed in the history of the world without any consequences?

This is madness. At some point, fiscal reality always catches up. Maybe not at $19 trillion. Maybe not even at $20 trillion.

Maybe it takes 3 months. Or 3 years. But somewhere out there is a straw that can break the camel’s back. And that has serious consequences.

Never forget that if something is predictable, then it’s also preventable.

And facing such obvious trends, it makes all the sense in the world to take some simple, rational steps to put together your own Plan B.

UK Govt Wants Parents To Spy On Kids

Chilling UK Government “Advice” Asks Parents To Spy On Their Kids

Submitted by Simon Black via SovereignMan.com,

This is WAY beyond ‘if you see something, say something.’

In a series of pamphlets circulated among local governments in the United Kingdom, British parents are now being encouraged to spy on their own children, and to report any instances of possible ‘radicalization’.

Of course this advice comes with a nifty set of instructions for how to spot a terrorist in your own home:

The first three “signs”:

  • Out of character changes in dress, behaviour and changes in their friendship group;
  • Losing interest in previous activities and friendships;
  • Secretive behaviour and switching screens when you come near—

Imagine that– a teenager who doesn’t want mom and dad to see what he’s doing on his iPhone? Or a 14-year old who starts dressing differently and hanging out with a different group of friends?

Funny, this sounds like. . . pretty much every teenager on the planet.

But even more unsettling are these:

  • Showing a mistrust of mainstream media reports and belief in conspiracy theories;
  • Appearing angry about government policies, especially foreign policy.

So apparently now questioning the propaganda and government policies are considered evidence of subversive, extremist behavior.

If you don’t fall in line, you’re a radical. And the government now wants to train parents to rat out their own children.

This is chilling. Disgusting. And unfortunately not too surprising from the country that was the backdrop for George Orwell’s 1984.

Orwell’s dystopic view of the future is rapidly becoming reality in many countries across the West.

The endless government monitoring of all electronic communication is prevalent everywhere in the ‘free’ world.

Financial privacy has been destroyed. Banks are now merely unpaid spies of bankrupt governments, and they will freeze you out of your life’s savings in a heartbeat if some faceless bureaucrat orders them to do so.

Civil Asset Forfeiture, where police and government agencies confiscate your cash and property without the slightest bit of due process, is at an all-time high.

So much, in fact, that the government now steals more from its citizens than private criminals.

Governments have even shown an alarming willingness to confiscate your own children if they deem in their sole discretion that you are an unfit parent… which may now include, obviously, ‘subversive’ behavior like questioning authority.

Now in Britain they want to turn the tables and have parents spy on children.

So the Ministry of Truth and Ministry of Love, it appears, are alive and well.

Yes, there have been some terrible tragedies lately. But governments are using these attacks as a way to tap into people’s most carnal fears, however unlikely they may be.

As we’ve discussed before, you’re more likely to choke on a hot dog than die in a terrorist attack.

But they’ll never spend trillions on a war against hot dogs… because hot dogs aren’t as scary as the image of an angry brown teenager with a headwrap and AK-47 climbing across a set of monkey bars in a terrorist training camp.

Governments stoke this fear and use it to award themselves even more power in the name of protecting you.

Now they’re encouraging you to violate the most sacred bonds of family as some sort of duty to the state.

Look, I have no doubt that there’s an army of bureaucrats out there who feel they have an honorable burden to keep people safe.

And they’re doing whatever they think they can do to protect us.

This sort of idea would have been unimaginable not too long ago… the stuff of North Korea or the Soviet Union. Yet today it seems perfectly acceptable.

It’s an incredible reminder of how the free world is now ruled by irrational paranoia, and not on the principles of liberty upon which it was founded.

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